Ok Loss, Texas Gain - Citgo Moving South

(Tulsa-AP) -- Citgo Petroleum will leave Tulsa, taking its company headquarters and about 700 jobs to Houston. Citgo President Luis Marin announced the move Monday morning, saying it will begin today and take about two years to complete.

Citgo says it will take about 700 jobs to Houston, leaving about 300 in Tulsa. Marin says about 99 percent of the vendors and customers ofCitgo's parent company are located in Houston. Citgo is owned byPetroleos de Venezuala S-A.

Citgo announced last August it was considering moving toHouston, where many of the nation's largest oil and gas companiesare headquartered. Citgo is the nation's fourth-largest gasoline retailer.

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